On October 4th, Brazilians voted in the first round of a presidential contest that will be decided in a run-off vote later this month. Following an early victory by Flávio Bolsonaro, whom investors consider the business-friendly candidate, the country’s primary stock exchange surged and its currency, the real, rallied against the dollar.
But the implications for multinationals operating in Latin America’s largest economy extend far beyond currency movements. Shannon K O’Neil of the Council on Foreign Relations and Luiz Mousinho, CFO at Fundação Butantan, explain why treasurers should be wary of the immediate market rally. Even if Bolsonaro defeats the incumbent, Luiz Inácio Lula da Silva, largescale fiscal reform and deregulation may not be forthcoming. Read the full article to find out why.
The new rules of surplus-cash management
Treasury teams are increasing their dollar-denominated cash balances. But holding more reserves does not necessarily mean having more cash available to invest. In a roundtable session at EuroFinance 2026 in Barcelona, treasury professionals discussed their approach to surplus liquidity. To choose the right strategy, treasurers must consider cash-flow timing, risk tolerance and redemption speed. Read the full article to hear their unfiltered insights.
Navigating Brazil’s complex compliance landscape
Operating in Brazil presents significant compliance challenges. The country’s tax system is notoriously complex, and restrictive interstate-sales regulations and policy uncertainty only complicate matters. Businesses are using emerging technology and establishing robust internal controls to manage the regulatory burdens and keep pace with evolving requirements. Read the full article to find out how.
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Kind regards,
The EuroFinance Team
